10-Q · May 8, 2026
Entera Bio reported a significant decline in revenue to $0 for Q1 2026, a drop from $42,000 in the same quarter last year. The company posted a net loss of $3.5 million, reflecting a 37% increase from $2.6 million in…
Earnings analysis · 10-Q
ENTX earnings analysis
Filed August 7, 2026 · Our reading of the company's report
The latest report
Entera remained pre-revenue, with Q2 revenue of $0 and diluted loss per share widening to $0.14 from $0.06 year over year. R&D and operating losses rose substantially as the company prepared for EB613 Phase 3 and…
Read full summary
Entera remained pre-revenue, with Q2 revenue of $0 and diluted loss per share widening to $0.14 from $0.06 year over year. R&D and operating losses rose substantially as the company prepared for EB613 Phase 3 and expanded OPKO programs, while warrant remeasurement added $2.755 million of financial expense. The subsequent $275.0 million private placement materially improved liquidity and is expected to fund operations into 2030, supporting a late-2026 EB613 Phase 3 start, but execution, clinical-development spending, and geopolitical risks remain significant.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.14
- Segment
- Single operating segment: Israel/consolidated operations; Q2 2026 revenue $0, operating loss $4.563 million, and net loss $7.312 million
What stood out
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No revenue; EPS loss widened
Revenue was $0 in Q2 2026 versus $0 in Q2 2025, while the company stated it does not expect product revenue until regulatory approval and commercialization. Diluted loss per share widened to $0.14 from $0.06 year over year and $0.07 in Q1 2026.
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Operating losses increased
Q2 operating loss increased to $4.563 million from $2.668 million, up $1.895 million or 71.1% year over year. Six-month operating loss was $8.102 million versus $5.231 million.
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R&D spending more than doubled
Q2 research and development expense rose to $3.201 million from $1.520 million, an increase of $1.681 million or 110.6%, driven by EB613 Phase 3 preparation and higher OPKO collaboration spending. Six-month R&D expense increased to $5.452 million from $2.643 million.
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$275.0M financing extends runway
The July 2026 private placement generated approximately $275.0 million of gross proceeds. Management said existing resources and the financing are expected to fund planned operations into 2030, eliminating substantial doubt about going-concern status.
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Liquidity improved before July financing
Cash and cash equivalents increased to $11.309 million at June 30, 2026 from $7.108 million at December 31, 2025, while total assets increased to $19.480 million from $15.993 million. The company also reported $18.4 million of cash, cash equivalents and restricted cash, including $7.1 million designated for OPKO collaboration obligations.
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EB613 Phase 3 plan advanced
The FDA accepted a single randomized Phase 3 EB613 trial in approximately 750 postmenopausal women, with total hip BMD at Month 12 as the primary endpoint. Management plans to initiate the registrational program in late 2026.
What to watch
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Middle East conflict escalated
The company’s updated risk disclosure describes renewed U.S.-Iran hostilities, the July 2026 closure of the Strait of Hormuz, and near-daily U.S. strikes, while research and management personnel remain based in Israel. Although operations were not materially affected through June 30, 2026, further escalation could disrupt operations, trade, or product development.
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Higher clinical-development cash burn
Operating cash burn increased to $6.554 million in the first six months of 2026 from $3.035 million in the prior-year period, and management expects operating expenses to increase significantly as it advances EB613 Phase 3 and EB612. The company also reported an accumulated deficit of $136.2 million.
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Warrant remeasurement volatility
The April pre-funded warrant liability was remeasured to $9.563 million at June 30, 2026 from $6.807 million at issuance, producing $2.755 million of additional financial expense. This contributed to Q2 net loss of $7.312 million versus $2.656 million in Q2 2025 and may increase earnings volatility.
Management's outlook
No quantitative revenue or EPS guidance was provided. Management expects existing cash resources, including the July 2026 private-placement proceeds, to fund planned operations into 2030; it plans to initiate the approximately 750-patient EB613 Phase 3 registrational study in late 2026 and submit an EB612 IND in the first half of 2027.
Earlier filings 4
10-K · March 27, 2026
Entera Bio reports meaningful regulatory and clinical progress for its lead oral peptide programs while remaining an early-stage, loss-making biotech with limited near-term liquidity. Key positives: EB613 completed a…
10-Q · November 14, 2025
Entera Bio reported Q3 2025 net loss of $3.2M (vs $3.0M in Q3 2024) and diluted loss per share of $0.07 (improved from $0.08), on quarterly revenue of $0. For the nine months ended September 30, 2025 the company had…
10-Q · August 8, 2025
Entera Bio reported Q2 revenue of $0 (three months ended June 30, 2025) and a GAAP net loss per share of $0.06 (loss), with operating loss of $2,668 (thousands) for the quarter. Liquidity materially improved in H1 2025…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.